Here are the office landlords embracing the flexible office market
The pandemic’s disruption on the city’s office market has some of its largest landlords switching gears and offering tenants more choices with their own bespoke flexible office offshoots While companies like WeWork and Knotel led the alternative office market as operators and managers, the city’s larger property owners are jumping on the trend to capitalize on their own empty real estate. That includes offering smaller, pre-built suites and shorter lease terms than usual to accommodate an uncertain office environment and the evolving needs of businesses and tenants. "They don’t want to spend the time to build out the suite themselves,"…
Date 2021-08-27
Author Natalie Sachmechi
Offices Dangle Beehives and Garden Plots to Coax Workers Back
The investment company Nuveen has spent $120 million renovating its office tower at 730 Third Avenue in Midtown Manhattan, overhauling the lobby, devoting the second floor to amenities and refurbishing a 22nd-floor terrace And the finishing touch? Two beehives on a seventh-floor terrace. Following the latest trend in office perks, Nuveen hired a beekeeper to teach tenants about their tiny new neighbors and harvest honey for them to take home. “In conversations with tenants, I get more questions about that than anything else,” said Brian Wallick, Nuveen’s director of New York office and life science investments. Office workers who were…
Date 2021-08-25
Author Jane Margolies
Durst Organization Installs Video-Enabled Windows at 825 Third Avenue
When Random House decided in the spring of 2019 to leave its longtime offices at 825 Third Avenue in Midtown East, the Durst Organization knew it had to give the 1969 Emery Roth-designed office tower a major overhaul — with a little pizzazz The $150 million renovation updates nearly every aspect of the building, including the facade, lobby, amenity spaces, mechanicals and elevators. However, one of the big selling points is the installation of special windows that can play videos and be used for video conferencing or presentations, just like a typical screen or projector. And, even without the video-enabled…
Date 2021-08-05
Author Rebecca Baird-Remba
Condé Nast yields to Durst, pays back rent at One World Trade Center
The owners of Condé Nast went eyeball-to-eyeball with their landlord at One World Trade Center — and the powerful magazine publishers blinked Advance Publications honchos Steven Newhouse and Donald Newhouse lost a fierce tug of war with real estate mogul Douglas Durst — and have paid nearly $10 million for four months’ back rent at the downtown skyscraper, The Post has learned. The Newhouse’s white flag concludes a widely watched tussle between the privately held, family-run companies that kicked off last summer when pandemic-pummeled Advance — parent to Condé Nast’s glam titles Vanity Fair, Vogue and The New Yorker —…
Date 2021-08-03
Author Steve Cuozzo
Here’s how companies are responding to the rise in coronavirus cases.
Companies are rushing to revisit their coronavirus precautions, with some mandating vaccines and pushing back targets for when employees are expected to return to the office, as cases rise across the United States, fueled by the Delta variant and slower pace of vaccinations Lyft said on Wednesday that it would not require employees to return to the office until February, while Twitter said it would close its newly reopened offices in San Francisco and New York and indefinitely postpone other reopening plans. Their actions follow announcements by authorities in California and New York City that they will require hundreds of…
Author The New York Times